Finance

Finance

Assurant Pre-Need reports Higher Income, Lower Sales

World-wide niche insurance conglomerate Assurant reported slightly higher Net Operating Income for the 2017 2nd Quarter over the same quarter last year.They also reported higher income by 13% in the Global Pre-Need segment over the same quarter one year ago. Pre-Need income was up according to the company statement due to higher fee and investment income.  They also note that increased income was driven mainly by increased volume in Canada. Assurant also reports that, according to the same quarter last […]

Finance

Matthews International Posts Solid Quarter

Worldwide conglomerate Matthews International posted expected in-line earnings of $1.05/share as compared to $0.97/share for the same quarter a year ago.  Quarterly revenues were $389.6 million as compared to $382.1 million last year and quarterly profits were $29.5 million as compared to $23.9 million.  You can see their Press Release here. Management reflected that higher sales and profits were a result of growth in sales of cemetery memorials and cremation equipment among other factors.  For the 3rd quarter of Matthew’s […]

Finance

FDD Reflections on 2Q Earnings of SCI and Carriage Services

It’s always interesting to look at the earnings reports of the Death Care industry’s public companies and try to not only glean how those companies are doing, but, what does this mean for my independent funeral home.  I think, as I’ve read the reports  Wednesday night and into Thursday, this quarter is no exception in trying to find some similarities and/or trends. As reported yesterday one company (SCI) surprised to the upside with earnings and one company (Carriage)  disappointed to […]

Finance

Carriage Services, SCI Report Earnings Yesterday

On Thursday, July 26, funeral home consolidators Carriage Services and Service Corporation International both reported 2nd Quarter earnings. Carriage Services came in at a diluted per share income of $0.30 when they had estimated an income of $0.40 per share.  Their stock lost 1.16% to close at $26.49 for the day on the news.  You can read their press release here. Service Corporation International surprised on the upside with earnings at $0.35 per share when they had estimated a per […]

Finance

Assurant Trades at All-Time High

Global pre-need provider, Assurant, traded at a yearly high yesterday of $106 per share.  You can read about it here. Today also tips off earnings week releases of most companies in the Death Care Index (DCI).  Carriage Services and SCI will report after market close today followed by Matthews International tomorrow.  Assurant and Hillenbrand Industries will be reporting next week. Stay tuned in the next week as Funeral Director Daily will cover the reports and analyze what is going on […]

Business Finance

Funeral Home News from Wall Street

I woke up Tuesday morning and noticed that Stonmor’s stock had plunged almost 11%.  In checking it out I noticed that the company issued a statement that they are in technical default on their revolving credit agreement and they mentioned that they may have more adverse events occur in mid-August.  The stock  was trading at Monday’s close at  $7.97 — that is down from a high of over $25 just over a year ago.  All analysts that follow Stonmor have […]

Finance

Industry Acquisitions Continue to Follow Trends

I’m using Friday’s column to catch up with some things I’ve seen in the industry concerning acquisitions over the past 2-3 weeks.  It’s interesting but not surprising that we continue to see acquisitions in the industry over that time period.  In the last three weeks we have seen: Thacker Casket acquire Madison Casket Company.  According to the Press Release this will give Thacker an opening to funeral homes in Mississippi and Louisiana.  The release also notes that this is Thacker’s […]

Finance

Service Corporation International Rolling Along

Just the other day an article on SeekingAlpha.com came out reporting on the status of public funeral home consolidator Service Corporation International (SCI).  As I’ve said before I’ve always kept up with the public companies in the death care industry because by following them I’ve learned things that have improved my own small business. I would suggest that you read the entire article on SeekingAlpha.com but here are some of the highlights that I gleaned from the article. SCI has […]